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Mar 26, 2013
03/13
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it doesn't get attention, because inside the beltway, the fixation is on deficit reduction, and that's not just among conservatives but centrists who somehow buy the idea that government is going to crush us if we don't immediately and drastically cut now. i don't think they want to cut as much as rand paul wants to cut. and you were right to highlight that part of his budget, increasing the retirement age and privatizing medicare, because i think that's the part of his budget that's going to really crash his 2016 hopes. but to get back to 2014, you know, it's going to be up to obama, particularly, to lead the charge. he's going to have to get out there and get in front and put his political capital on the line to make sure that democrats can win seats. and he and other democrats have to stop talking about the federal budget as if it's a family budget. it's not. it just isn't. they can't use that metaphor, ever again. >> heather mcgee and michael tomasky, let us stop talking of deficits and let us start talking of jobs. thank you for your time tonight. >> amen. >>> in a country rocked
it doesn't get attention, because inside the beltway, the fixation is on deficit reduction, and that's not just among conservatives but centrists who somehow buy the idea that government is going to crush us if we don't immediately and drastically cut now. i don't think they want to cut as much as rand paul wants to cut. and you were right to highlight that part of his budget, increasing the retirement age and privatizing medicare, because i think that's the part of his budget that's going to...
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Mar 23, 2013
03/13
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KQEH
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it's the worst deficit that we've had, and nobody knows. >> social security is easy to fix. you lift the cap right now if >>> predictions. pat. >> immigration reform passes the house. republicans kill it in the senate. >> eleanor. >>next state to legalize gay marriage. >> what state? >> illinois. >> susan. >> immigration reform is going to run into big trouble in congress. >> really. mort. >> what i think the economy is going to remain >>> i predict that president abi of japan trying to revitalize his economy by loosening its grip on inflation will overshoot. he will go into debt, it will go into debt
it's the worst deficit that we've had, and nobody knows. >> social security is easy to fix. you lift the cap right now if >>> predictions. pat. >> immigration reform passes the house. republicans kill it in the senate. >> eleanor. >>next state to legalize gay marriage. >> what state? >> illinois. >> susan. >> immigration reform is going to run into big trouble in congress. >> really. mort. >> what i think the economy is going...
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64
Mar 24, 2013
03/13
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KQED
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eye 64
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it's the worst deficit that we've had, and nobody knows. >> social security is easy to fix. you lift the cap right now if >>> predictions. pat. >> immigration reform passes the house. republicans kill it in the senate. >> eleanor. >>next state to legalize gay marriage. >> what state? >> illinois. >> susan. >> immigration reform is going to run into big trouble in congress. >> really. mort. >> what i think the economy is going to remain >>> i predict that president abi of japan trying to revitalize his economy by loosening its grip on inflation will overshoot. he will go into debt, it will go into debt >>> two closely watched u.s. supreme court cases are around the corner. for advocates and opponents for same-sex marriage. we will look at the issue as then mayor gavin newsom issued marriage licenses. we get an update from washington, d.c. for the preparations for the up coming hearings. >> they will be mindful of the limited role as judges to interpret existing law. >> plus, legal analysis on how the issues might be viewed on the highest court in the land. stay tuned for the
it's the worst deficit that we've had, and nobody knows. >> social security is easy to fix. you lift the cap right now if >>> predictions. pat. >> immigration reform passes the house. republicans kill it in the senate. >> eleanor. >>next state to legalize gay marriage. >> what state? >> illinois. >> susan. >> immigration reform is going to run into big trouble in congress. >> really. mort. >> what i think the economy is going...
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Mar 18, 2013
03/13
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KNTV
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nonetheless, we'll take what we can get, deficit in terms of rainfall totals. good news is, clear you out just in time for upcoming weekend. getting into a really comfortable weekend of spring with low- to mid-70s on the way. back to you now, marla and jon. >> bring it on. looking forward to it. thank you, christina. coming up at 11:00, keeping track of your taxi no matter where it goes. let you know about the new app that let's you tag along with your taxi before you step inside. >> and march madness is here. why st. mary's still has some work to do and why cal bears are staying home. [ man ] we have a go for auto sequence start. t-minus 5, 4, 3, 2, 1... ignition. [ male announcer ] launch your internet experience on at&t's newly expanded advanced digital network and connect more wi-fi-enabled devices at home. [ female announcer ] call to get u-verse high speed internet starting at $14.95 a month -- a guaranteed price for 12 months. or ask how to get your choice of a kindle fire hd, sonos play:3 or xbox 360 free with other qualifying internet offers. [ male an
nonetheless, we'll take what we can get, deficit in terms of rainfall totals. good news is, clear you out just in time for upcoming weekend. getting into a really comfortable weekend of spring with low- to mid-70s on the way. back to you now, marla and jon. >> bring it on. looking forward to it. thank you, christina. coming up at 11:00, keeping track of your taxi no matter where it goes. let you know about the new app that let's you tag along with your taxi before you step inside....
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Mar 21, 2013
03/13
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FBC
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neil: i think it's a deficit. >> no, it's 17 times our debt. pretty close there. neil: i was talking to charlie rangel earlier on this issue, and he more or less tried to make fun of the notion of imujts themselves, whether they are on time or late, regardless, you know, no one really sticks to them, and actually in truth, he's right about that, but he duds make a mockery of the process, not only when you propose budgets late, and other presidents who have done this before. he's developed into an art form, obviously, but when you don't stick to them in the thing, and you blow them away by spending far more than is allocated in them. what do you think of this in >> well, i think submitting a budget's important besides the fact it's required by law because it's the blueprint for where we go forward fiscally, and you have to abide by the law. what congress is doing between the ryan budget and murray budget, we're going nowhere fast, and essentially, the question is is president obama going to put forth a budget, stick his neck out, modernize entitlements? guess what,
neil: i think it's a deficit. >> no, it's 17 times our debt. pretty close there. neil: i was talking to charlie rangel earlier on this issue, and he more or less tried to make fun of the notion of imujts themselves, whether they are on time or late, regardless, you know, no one really sticks to them, and actually in truth, he's right about that, but he duds make a mockery of the process, not only when you propose budgets late, and other presidents who have done this before. he's developed...
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Mar 18, 2013
03/13
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KQED
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we set as a goal as a number of others have to rules the deficit by 4 trillion dollars over the next decade. we made substantial progress. two and-a-half million. we didn't reach a plan then because speaker boehner decided to go to plan b. if we couldn't get to the bargain then i don't know if it's any easier now. it's hard for me to say what has changed from their calculations. but the president is going to try whatever will work and try to be helpful with this process. >> rose: just a couple points about what's happening in the most. one is as you know, there's some question as to the process that led boehner to leave the negotiations for the grand bargain at that time and whether the president said i need more, i need more revenue and that caused boehner to say we can't do that and the deal was not that and i'm out of here. that's one. the other is who actually called for the sequester and those two things have been in discussion and now the administration accepts responsibility or at least that the notion to begin the sequester conversation came from the whitehouse. >> i think yo
we set as a goal as a number of others have to rules the deficit by 4 trillion dollars over the next decade. we made substantial progress. two and-a-half million. we didn't reach a plan then because speaker boehner decided to go to plan b. if we couldn't get to the bargain then i don't know if it's any easier now. it's hard for me to say what has changed from their calculations. but the president is going to try whatever will work and try to be helpful with this process. >> rose: just a...
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Mar 21, 2013
03/13
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FOXNEWSW
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they are at odds about the budget deficit. they believe the federal government should be required to balance the budget. and when asked to describe the national debt 68 percent said it is an immediate problem. 27 percent said it's something that can be handled in the future. only 4 percent said it's not a problem. >> reveal your weight or pay a penalty. cvs announcing all workers on company healthcare must have an annual wellness review and report their weight, body fat, blood pressure and more. if they don't they will be charged $600 more a year. people not only criticizing the penalty but also wondering this about worker's privacy. in a statement cvs said personal health information would remain private. so we want to know would you reveal this information? send us your comments at foxfriendsfirst@foxnews.com. >>> 9 minutes to the top of the hour. you are looking at president obama arriving at ramallah. this as a short time ago a rocket launched into southern israel. we have a live report from ramallah on the other side of t
they are at odds about the budget deficit. they believe the federal government should be required to balance the budget. and when asked to describe the national debt 68 percent said it is an immediate problem. 27 percent said it's something that can be handled in the future. only 4 percent said it's not a problem. >> reveal your weight or pay a penalty. cvs announcing all workers on company healthcare must have an annual wellness review and report their weight, body fat, blood pressure...
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Mar 20, 2013
03/13
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FBC
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eye 70
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our deficit is as well as it makings it cheaper for poll tish shuns to borrow. former representative ron paul says why the fed is addicted to the this. you don't want to miss ron paul coming up. lauren: despite the cyprus scare, our next guest says they offer good investments. he will tell you which ones to buy. his answers certainly surprised me. lauren: time for a quick speed read of some of the day's other headlines. five stories, one minute of the first up, general motors recalling 34,000 vehicles to fix transmissions. recall affects 2013 buick lacrosse and cadillac srx crossover models. >>> u.s. crude oil production set to pass imports for the first time in 18 years. the gap between monthly oil production and imports is projected to be nearly two million barrels per day by 2014. >>> neiman marcus settles with the federal trade commission after claiming its products were made with faux fur when they contained real fur. it prohibits the retailer from violating those laws for 20 years. >>> total number of mortgage applications subpoena applied for in the u.s.
our deficit is as well as it makings it cheaper for poll tish shuns to borrow. former representative ron paul says why the fed is addicted to the this. you don't want to miss ron paul coming up. lauren: despite the cyprus scare, our next guest says they offer good investments. he will tell you which ones to buy. his answers certainly surprised me. lauren: time for a quick speed read of some of the day's other headlines. five stories, one minute of the first up, general motors recalling 34,000...
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Mar 23, 2013
03/13
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CNNW
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there was no new taxes, it would curb spending by repealing obama care and eliminate the deficit in ten years. $4.6 trillion in cuts. zero chance of passing in the democratic-controlled senate, it's dead on arrival. >> lawmakers in the house and senate approved legislation to fund the government through the end of september. that avoids the risk of a partial federal shutdown. in the process, they are on spring break for a couple weeks. what's your take on this? >> my take is the whole financial dysfunction of our congress is mind blow iing. you look at this week. let's say frederick, maryland, where there's air traffic control that will be shut. a tower that was built by the stimulus money. so stimulus money went into this tower. the government saying it's a priority. and the the government because of its dysfunction saying we have to shut is down. that's a perfect representation, i think, of how washington is not doing its job. we can't even pass a budget. it can't even run the books. there's no strategy. when you look at some of the spending cuts, you see a lack of a strategy in ameri
there was no new taxes, it would curb spending by repealing obama care and eliminate the deficit in ten years. $4.6 trillion in cuts. zero chance of passing in the democratic-controlled senate, it's dead on arrival. >> lawmakers in the house and senate approved legislation to fund the government through the end of september. that avoids the risk of a partial federal shutdown. in the process, they are on spring break for a couple weeks. what's your take on this? >> my take is the...
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Mar 23, 2013
03/13
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FOXNEWSW
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calls for more spending and more taxes and bigger deficits. that is not where the american people are. recent polls this week showed that 55% of the american people favored the republican budget plan. if you took the word republican off of it and simply described would you support a budget that balances the budget and raises no taxes and cuts $5 trillion of them favor that 55% to 24% that budget that would raise taxes by a trillion and cut spending by hundred billion and not balance the budget which is what the democratic budget calls for. >> greta: we are 18 months out from the 2014 election. we have the house has passed a budget and senate has passed a budget. it will go to a conference for reconciliation. both parties have made it sent tral focus of 2014. it is a signal they are more interested in winning and making sorted smear each other's face with each other budget rather than drawing common ground. >> two things. they don't go to conference on the budget resolutions. each house passes its own resolution which gives protection for the a
calls for more spending and more taxes and bigger deficits. that is not where the american people are. recent polls this week showed that 55% of the american people favored the republican budget plan. if you took the word republican off of it and simply described would you support a budget that balances the budget and raises no taxes and cuts $5 trillion of them favor that 55% to 24% that budget that would raise taxes by a trillion and cut spending by hundred billion and not balance the budget...
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Mar 25, 2013
03/13
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FOXNEWSW
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their long-term debt of more than 14 bill, $327 billion deficit. they don't want to get to where stock toeupbs righ stockton is right now so they are under this emergency pherg, state control. a lot of people have scheduled a protest today, are being called for to protest this move. what exactly wha will he be responsible for? >> slicing and dicing. cutting salaries of city employees. detroit already has a high crime rate. you don't want what happened to stockton, just like matt said they have per capita more murders in the city of chicago. how is that possible, little stockton? if you look at the map in california everybody was moving out in san francisco, properties were too high there, same with palo at torques silicon valley, they moved to stockton. what could happen in detroit unless they start cutting more. if detroit has to file for chapter 9 bankruptcy municipal that would make headlines around the world and kind prus would be booted off the front page. >> that's what they are trying to do and -- >> the mayor and the city council loose all
their long-term debt of more than 14 bill, $327 billion deficit. they don't want to get to where stock toeupbs righ stockton is right now so they are under this emergency pherg, state control. a lot of people have scheduled a protest today, are being called for to protest this move. what exactly wha will he be responsible for? >> slicing and dicing. cutting salaries of city employees. detroit already has a high crime rate. you don't want what happened to stockton, just like matt said they...
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Mar 22, 2013
03/13
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MSNBCW
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they are projecting a billion dollars deficit. it would save money the next take aid. when did you know that grandma was the one? when her sister dumped me. oh dad, you remember my friend alex? yeah. the one that had the work done... [ male announcer ] sometimes being too transparent can be a bad thing. this looks good! [ male announcer ] but not with the oscar mayer deli fresh clear pack. it's what you see is what you get food. i worked a patrol unit for 17 years in the city of baltimore. when i first started experiencing the pain, it's hard to describe because you have a numbness but yet you have the pain like thousands of needles sticking in your foot. it was progressively getting worse, and at that point, i knew i had to do something. when i went back to my health care professional, that's when she suggested the lyrica. once i started taking the lyrica, the pain started subsiding. [ male announcer ] it's known that diabetes damages nerves. lyrica is fda approved to treat diabetic nerve pain. lyrica is not for everyone. it may cause serious allergic reactions or sui
they are projecting a billion dollars deficit. it would save money the next take aid. when did you know that grandma was the one? when her sister dumped me. oh dad, you remember my friend alex? yeah. the one that had the work done... [ male announcer ] sometimes being too transparent can be a bad thing. this looks good! [ male announcer ] but not with the oscar mayer deli fresh clear pack. it's what you see is what you get food. i worked a patrol unit for 17 years in the city of baltimore. when...
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512
Mar 26, 2013
03/13
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CNBC
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country, deficit countries with italy and france. i think, ultimately, yes, you will see the contagion. i think that is the risk of fractional reserve banking in general. and i think, ultimately, having a lot of asset deterioration in the form of unperforming loans. and i think, ultimately, this is the importance of seeing real money, you know, physical gold and silver representing real money, real assets. the difference between an asset and a liability from an accounting and a legal standpoint, i think, is really being brought to the limelight here. and i think it's only going to continue to do so. >> steven, isn't there a danger, and this is what has worried people about this potential domino effect, that if regulators and the ecb can go after what has been sacredtory to this point, namely depositors, even uninsured depositors, maybe you've in and out set a precedent that it could happen someplace else, where you thought it could never happen at another time. >> i think, as you said, the key word here is uninsured depositors. relat
country, deficit countries with italy and france. i think, ultimately, yes, you will see the contagion. i think that is the risk of fractional reserve banking in general. and i think, ultimately, having a lot of asset deterioration in the form of unperforming loans. and i think, ultimately, this is the importance of seeing real money, you know, physical gold and silver representing real money, real assets. the difference between an asset and a liability from an accounting and a legal...
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Mar 26, 2013
03/13
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FOXNEWSW
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they are making up a billion dollar budget deficit. >> stockton, california now. the largest u.s. city to file for bankruptcy. lawyers for the central valley city of 300,000 people are filing chapter 9 to see how it will pay in the pension fund which is the top debt. >> we have stories you can bank on this morning. bad news for your wallet. while many of us are making less than we were four years ago, joining us now to explain why is lauren simonetti from the fox business network. >> what's the primary reason here? >> there is a few reasons mostly because it costs more money. i am going to show you some numbers. they are really startling. when it feels like we are not making money we always say that. when you look at the data we are not. median household income is over 51,000 dollars. take a look at that on a time line. 6 percent less than when the economic recovery began in summer of 2009 and less than when the recession started. obviously we are not making enough money. all of this data comes from research. they also say one of the key reasons speegsly now because - especially n
they are making up a billion dollar budget deficit. >> stockton, california now. the largest u.s. city to file for bankruptcy. lawyers for the central valley city of 300,000 people are filing chapter 9 to see how it will pay in the pension fund which is the top debt. >> we have stories you can bank on this morning. bad news for your wallet. while many of us are making less than we were four years ago, joining us now to explain why is lauren simonetti from the fox business network....
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Mar 22, 2013
03/13
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MSNBCW
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as the city copes with a billion dollar budget deficit. for students in detroit problems with the education system are being magnified by that community's economic troubles. if you look statewide a quarter of michigan children under 17 were living in poverty in 2011. compare that to detroit where the number is more than twice that much. it is 57%, folks. nearly two in three detroit children 5 and under are below the poverty line. msnbc's correspondent joins us live from detroit where she'll cohost a summit on education today and a student town hall tomorrow. those numbers are frightening and daunting. >> they really are startling numbers. i've got my notebook with me because i'm going to school today, chris. it has a lot of people worried and concerned and working to change the dynamics of those numbers. that's what we'll be talking about here. many people are also concerned about the fact, the elephant in the room we can't dismiss that come monday the city of detroit will be under the auspices of an emergency financial manager. people sho
as the city copes with a billion dollar budget deficit. for students in detroit problems with the education system are being magnified by that community's economic troubles. if you look statewide a quarter of michigan children under 17 were living in poverty in 2011. compare that to detroit where the number is more than twice that much. it is 57%, folks. nearly two in three detroit children 5 and under are below the poverty line. msnbc's correspondent joins us live from detroit where she'll...
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Mar 25, 2013
03/13
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KGO
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the 13-point deficit and it tied the game at 69. under two minutes left. clie born drives and makes the bucket. they call the offensive foul. questionable call by the officials. iowa state cannot believe it. instead of a four-point lead it is tied at 75. and then .20 of a second left. the three and are you kidding me? ohio state is on to the sweet 16 for a school record fourth straight year. they will face arizona. second seed miami and illinois. the illini taking advantage of the lack of defense. right to the hoop and late in the game and tied at 52. one hand and jam. it is easy for the illini. down one and a minute left and larkin with the step back three. got it. miami to the sweet 16. they will face market. 63-59 the final. don't see a 12 and 13-seed very often. 6 seconds left and tied at 74. garland banks it in and la salle up 2. ole miss inbounds the ball and from half court for the win and no way. la salle moving on to the sweet 16 for the first time since 1955. 76-74 the final. we will take a brief timeout before we check in on the stanford women.
the 13-point deficit and it tied the game at 69. under two minutes left. clie born drives and makes the bucket. they call the offensive foul. questionable call by the officials. iowa state cannot believe it. instead of a four-point lead it is tied at 75. and then .20 of a second left. the three and are you kidding me? ohio state is on to the sweet 16 for a school record fourth straight year. they will face arizona. second seed miami and illinois. the illini taking advantage of the lack of...
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Mar 23, 2013
03/13
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CNNW
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but i have to tell you, wolf, we can't keep running up deficits like this. it will damage the economy deeply. people say we don't have a crisis on the horizon, of course we do. we have a debt on a tear. if the debt takes off like it is projected to do so, it is not only hurting our economy today, it is destroying it for the next generation. we can't sit around and be complicit with that. the problem is we have to do something about that. >> one final question. senator rand paul was here yesterday in "the situation room," 24 hours ago. he said flatly he is going to iowa the next few weeks, seriously thinking of running for the republican presidential nomination in 2016. thinks it is a good idea for him. what about you? >> i am going to make my mind up later. the reason i need to do this job, i am chairman of the budget committee, we have a crisis on the horizon, we need agreements done, i don't think it is good for me or wisconsin district or my colleagues to cloud my judgment at this time with other things. i need to do what i think is right in this moment,
but i have to tell you, wolf, we can't keep running up deficits like this. it will damage the economy deeply. people say we don't have a crisis on the horizon, of course we do. we have a debt on a tear. if the debt takes off like it is projected to do so, it is not only hurting our economy today, it is destroying it for the next generation. we can't sit around and be complicit with that. the problem is we have to do something about that. >> one final question. senator rand paul was here...
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160
Mar 25, 2013
03/13
by
KGO
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eye 160
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the 13-point deficit and it tied the game at 69. under two minutes left. clie born drives and makes the bucket. they call the offensive foul. questionable call by the officials. iowa state cannot believe it. instead of a four-point lead it is tied at 75. and then .20 of a second left. the three and are you kidding me? ohio state is on to the sweet 16 for a school record fourth straight year. they will face arizona. second seed miami and illinois. the illini taking advantage of the lack of defense. right to the hoop and late in the game and tied at 52. one hand and jam. it is easy for the illini. down one and a minute left and larkin with the step back three. got it. miami to the sweet 16. they will face market. 63-59 the final. don't see a 12 and 13-seed very often. 6 seconds left and tied at 74. garland banks it in and la salle up 2. ole miss inbounds the ball and from half court for the win and no way. la salle moving on to the sweet 16 for the first time since 1955. 76-74 the final. we will take a brief timeout before we check in on the stanford women.
the 13-point deficit and it tied the game at 69. under two minutes left. clie born drives and makes the bucket. they call the offensive foul. questionable call by the officials. iowa state cannot believe it. instead of a four-point lead it is tied at 75. and then .20 of a second left. the three and are you kidding me? ohio state is on to the sweet 16 for a school record fourth straight year. they will face arizona. second seed miami and illinois. the illini taking advantage of the lack of...
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Mar 19, 2013
03/13
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CNBC
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deficit and it will cut into the chinese surplus. and you ask the average economist for the last three or four years before the crisis, during the crisis, after the crisis, what's the global economic problem, number one, the answer probably isn't microimbalances. trade surplus in the u.s., trade surplus and china. what i didn't know is that still more than half of the u.s. deficit of goods and services is energy imports. >> and that's going to go away? >> as things are going, that might be going away. at the same time, china surplus will suffer from the tracing of independence of china. >> that's strong dollar weak yuan. becky. >> just an observation. >> first, tight oil, i haven't heard of this before. i know where the marcellus shale fields are. where is tight oil? is it in the same sort of locations? >> same. traditionally, coming out of gas yields because of this huge different between gas and oil prices. which went up from almost zero to more than a million barrels per day now within five years time. >> does cyprus have any oil?
deficit and it will cut into the chinese surplus. and you ask the average economist for the last three or four years before the crisis, during the crisis, after the crisis, what's the global economic problem, number one, the answer probably isn't microimbalances. trade surplus in the u.s., trade surplus and china. what i didn't know is that still more than half of the u.s. deficit of goods and services is energy imports. >> and that's going to go away? >> as things are going, that...
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Mar 20, 2013
03/13
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CSPAN
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the deficit according to their budget in the year 2023, will be $5 6 billion. in contrast the budget that we will be offering will be surplus, surplus in 2023. will finally allow us to start paying down the debt. there are no reforms. no significant reforms at all. in medicare, medicaid, social security. how you can have a vision for this country going forward and not at least discuss possible, reasonable reforms to those programs is beyond even somehow it passed out of the senate committee. defense is cut by an additional quarter of a trillion dollars. a cut by an additional quarter of a trillion dollars over the sequester cuts we already had and over the reductions the defense department voluntarily took upon itself during the last budget process. i come before this body before, mr. chairman, and encouraged this body in a bipartisan fashion to look to the defense department as possible ways to save money. under the belief there must be some money in the defense department that can be saved in a responsible fashion. what the senate has done goes so far beyond
the deficit according to their budget in the year 2023, will be $5 6 billion. in contrast the budget that we will be offering will be surplus, surplus in 2023. will finally allow us to start paying down the debt. there are no reforms. no significant reforms at all. in medicare, medicaid, social security. how you can have a vision for this country going forward and not at least discuss possible, reasonable reforms to those programs is beyond even somehow it passed out of the senate committee....
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Mar 22, 2013
03/13
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MSNBCW
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fill larks newark, new jersey, washington and detroit have all closed schools to cut budget deficits. and that brings us to education nation. which is part of an ongoing commitment by nbc news, to foster a national dialogue about the future of education in america. today education nation is on the road in detroit with he had nbc's education correspondent, rehema ellis. >> we want to talk about what's happening to the schools in michigan. but in detroit, we can't help but talk about what's happening in the city of detroit. joining me right now is the governor of michigan, rick snyder. and the news of the day is that on monday, your emergency financial manager for detroit is going to go to work. there's a lot of controversy around it. people are protesting, saying it's unconstitutional. that he's going to sell off some iconic pieces of the city in order to balance the budget. what do you say? >> well it is legal. this is a crisis. and we need to turn it around. and if you look at, we've had success with emergency managers. if you look at detroit public schools, they've had one for the l
fill larks newark, new jersey, washington and detroit have all closed schools to cut budget deficits. and that brings us to education nation. which is part of an ongoing commitment by nbc news, to foster a national dialogue about the future of education in america. today education nation is on the road in detroit with he had nbc's education correspondent, rehema ellis. >> we want to talk about what's happening to the schools in michigan. but in detroit, we can't help but talk about what's...
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will they give the president a major deficit reduction victory or not? if they really believe that needs to be done and the president put something on the table that gets them significant entitlement reform and savings, i think they've got to do it. >> harold, i think the possibility of deals and immigration, possibility of deals on guns, possibility of deals on the budget, on the long-term debt, i think the possibilities are actually -- excuse me for being optimistic, pretty darn good on all fronts. you've got republicans who daily are holding press conferences wringing their hands trying to figure out how to save their party. and you have a president who, again, he's a 47%, pretty damn good considering everything. but still, he wants to be over 50% and he wants a legacy. he doesn't want to just talk about what he did the first two years. >> i agree. i believe the prospects for progress on both immigration and gun control are gun regulation. if we get progress on the budget and the debt. i think immigration and gun regulations are easier to win. if the
will they give the president a major deficit reduction victory or not? if they really believe that needs to be done and the president put something on the table that gets them significant entitlement reform and savings, i think they've got to do it. >> harold, i think the possibility of deals and immigration, possibility of deals on guns, possibility of deals on the budget, on the long-term debt, i think the possibilities are actually -- excuse me for being optimistic, pretty darn good on...
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more revenue than any year in our history and yet we're still going to have a trillion dollars budget deficit. spending is the problem. >> the white house says in response, yes, it's true. taxes went up more than $600 billion over ten years at the end of the year but it is also true the white house put $1.5 trillion worth of spending cuts in their budget. the truth is you're both right. i mean, they have offered spending cuts. the taxes did go up. it still hasn't made enough of a dent. you still have to sit down and do something. >> right. i think we're doing our budget this year. actually we're doing it this week here in the house. our budget will balance in ten years. we're going to pass our budget. hopefully the senate will pass their budget. except their budget never comes to balance. the president's budget never comes to balance. you can't continue to spend money as far as the eye can see that you don't have. and that's what they're continuing to propose, along with higher taxes on the american people. >> but the political reality is, no budget deal can probably happen, not one that will
more revenue than any year in our history and yet we're still going to have a trillion dollars budget deficit. spending is the problem. >> the white house says in response, yes, it's true. taxes went up more than $600 billion over ten years at the end of the year but it is also true the white house put $1.5 trillion worth of spending cuts in their budget. the truth is you're both right. i mean, they have offered spending cuts. the taxes did go up. it still hasn't made enough of a dent....
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Mar 25, 2013
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>> the question is, dan, are we in a situation where we have to deal with deficit reduction tomorrow or whether we can deal with it on a basis of we can get there as we deal with stimulating the economy and bringing revenue back into the economy and deal with deficit rededuction at the same time. the aus ter citerity. >> it's for the austerity. >> if you do not get ahead of this problem, this entitlement crisis, this brewing entitlement crisis, we have time. we have time to get ahead of it now. if you look what happened in europe awe -- asaying your benefits are being cut tomorrow. >> but you've got to -- >> let me finish the point! not five or ten years from now, next month, your benefit is get slashed. if you do not get ahead of this that is what awe sistusterity l like now. >> i think what is he saying, though, if you stimulate the economy and provide jobs and infrastructure it will put resources into the system because you will be creating taxpayers and you'll be making it more solvent to deal with these problems. i think that is where the disagreement is. >> i had a really incit
>> the question is, dan, are we in a situation where we have to deal with deficit reduction tomorrow or whether we can deal with it on a basis of we can get there as we deal with stimulating the economy and bringing revenue back into the economy and deal with deficit rededuction at the same time. the aus ter citerity. >> it's for the austerity. >> if you do not get ahead of this problem, this entitlement crisis, this brewing entitlement crisis, we have time. we have time to...
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make sure we have deficit reduction but don't cut too much too fast. >> dick durbin also optimistic they can move forward. as congress grapples with developing a budget it must deal with another problem that looms it has to pass a continued resolution before march 27th to avert a government shut down. heather, they go on break at the end of this week. we will see what happens. >> of course they do. they are always going on breakdown there. >>> it is time for your first degree weather update with ma r maria molina. >> maria is in the weather center tracking another storm. is that right? >> yes. a brand new storm impacting portions of the upper midwest today and we are expecting to see snow from the same system into the northeast as we height. we could be seeing significant accumulations especially across places in new england. want to start out with high temperatures. we are seeing wild disparities as far as the temperatures go. take a look at minneapolis. 30 degrees for the high temperature today. it will feel more like january than march. in san antonio you could see record heat 93 degr
make sure we have deficit reduction but don't cut too much too fast. >> dick durbin also optimistic they can move forward. as congress grapples with developing a budget it must deal with another problem that looms it has to pass a continued resolution before march 27th to avert a government shut down. heather, they go on break at the end of this week. we will see what happens. >> of course they do. they are always going on breakdown there. >>> it is time for your first...
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. >> do you think the war is to blame for the deficits we see these days? >> no. it's really not. if you look at where defense spending is today either as a percentage of the economy or budget, it's below post-war norms. under the president's budget it will fall more rapidly. the main cause that we saw today of the explosive growth in spending over ten years, president obama made that worse although the republicans in congress ten years ago didn't cover themselves and the changing face of america. we have many more now supported by workers for the retirement programs and a noble important purpose. they need to be preserved for the next generation. >> you are a proud veteran and something i find to be interesting to some degree of polling is the lack of availability for benefits for those who have served so nobly and come home. i want to put up the stats for you. veterans affairs data. 600,000 veterans have benefits and 245,000 have benefitings back lock logged aier or more. the average is 273 days. the first time claimants from iraq and afghanistan, the average wait is 316 days. h
. >> do you think the war is to blame for the deficits we see these days? >> no. it's really not. if you look at where defense spending is today either as a percentage of the economy or budget, it's below post-war norms. under the president's budget it will fall more rapidly. the main cause that we saw today of the explosive growth in spending over ten years, president obama made that worse although the republicans in congress ten years ago didn't cover themselves and the changing...
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Mar 23, 2013
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they decided to cut costs as the chicago public school system faces a reported billion dollar deficit. alderman willie cochran's ward, constituents have been calling all day. >> some cases we are happy, in some cases we are not so happy. >> reporter: on the plus side, the district says the savings will allow major investments in surviving schools including adding 70 libraries, science labs, even air conditioning. for many it's not what's gained but what's lost and where. neighborhood schools in some of chicago's poorest communities. the decisions were based on low enrollment but others say race made a role. an outraged carrie austin, an alderman, told "the chicago tribune," quote, every time the whites go to screaming and hollering, they back off and steam roll over black and brown folks. not this time. and she's not the only one who believes that. you think it's the black communities that often are asked to sacrifice first? >> in this case, yes, i do. yes, i do. >> reporter: this is 70th street in the heart of the city's south side and this is the local elementary school. parents are
they decided to cut costs as the chicago public school system faces a reported billion dollar deficit. alderman willie cochran's ward, constituents have been calling all day. >> some cases we are happy, in some cases we are not so happy. >> reporter: on the plus side, the district says the savings will allow major investments in surviving schools including adding 70 libraries, science labs, even air conditioning. for many it's not what's gained but what's lost and where....
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we say, let's take some of that revenue to help reduce the deficit, combined with other targeted cuts. >> be more specific for me. when you talk about tax loopholes and the very wealthy. which specific loopholes and what is very wealthy? >> sure, sure, these are, when you're in the highest tax bracket, you're in the 39% tax bracket when you get a deduction, whatever it may be for, you get 39 cents worth of deduction. whereas somebody who is in the 28% tax bracket only gets 28 cents deduction for that particular deduction. so what we're saying and this is similar to a proposal the president's put forward, is that for folks who are in that very high bracket, the 39% bracket, the value of your deductions will be limited to about 28% which is what the value of deductions is for a middle income taxpayer. >> so ultimately, the budget that you have there and i just read the little chunk of it, you have more revenue increases than cuts, right? >> within, within this particular budget, but if you look, soledad, at the two-year period of reduction we've been engaged in, which is -- includes the
we say, let's take some of that revenue to help reduce the deficit, combined with other targeted cuts. >> be more specific for me. when you talk about tax loopholes and the very wealthy. which specific loopholes and what is very wealthy? >> sure, sure, these are, when you're in the highest tax bracket, you're in the 39% tax bracket when you get a deduction, whatever it may be for, you get 39 cents worth of deduction. whereas somebody who is in the 28% tax bracket only gets 28 cents...
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Mar 18, 2013
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they are hoping to get a big deal here to address the deficit. last year, the house and senate put out opposing plans. the good news is that both sides seem ready to work toward a path to compromise. just what that path is is not clear. the president won't be involved in very many budget talks. he is traveling to israel for the first time as president. he is going to work on his relations with prime minister, benjamin netanyahu. republicans are returning reenergized after wrapping up their conservative political action. who they could be looking for a 2016 presidential run. senator rand paul followed by senator marco rubio were on top. >>> we are going to get you updated when it comes to the forecast. enjoy today. don't wash the car. >> don't go doing anything crazy like that. >> wash both your cars. >> i well get my sham would you out for you. >>> 42, napa, 45, san francisco. 37 degrees in novato. temperatures mostly in the upper 40s. mid-40s in sunnyvale and 45 there and 40 to start in san mateo. grab your allergy medicine if you still suffer f
they are hoping to get a big deal here to address the deficit. last year, the house and senate put out opposing plans. the good news is that both sides seem ready to work toward a path to compromise. just what that path is is not clear. the president won't be involved in very many budget talks. he is traveling to israel for the first time as president. he is going to work on his relations with prime minister, benjamin netanyahu. republicans are returning reenergized after wrapping up their...
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there is something unique in the baseline where deficits go down to the mid part of the next ten years and then go right back up. what we want to do is get them on a downward path and keep them down. we not only balance the budget, we go into surpluses and pay off the debt. >> brian: here is chris van hollen. he seems to disagree with everything you say. here is an example. >> i'm used to that. >> let me focus first on what our budget focuses on, which is not just economic growth in jobs in the future, but jobs in economic growth now and in the future. this republican budget is not balanced in ten years. >> brian: is he right? is it not in balance? >> no, it does balance in ten years. they're throwing new meaning to the word balance. they say they're taking a balanced approach. the problem is their balanced approach never, ever balances the budget. from what murray and van hollen's standpoint, a balanced approach is another tax increase, only followed up with more spending increases. they think that's the balanced approach. we actually balance the budget by cutting spending and not rai
there is something unique in the baseline where deficits go down to the mid part of the next ten years and then go right back up. what we want to do is get them on a downward path and keep them down. we not only balance the budget, we go into surpluses and pay off the debt. >> brian: here is chris van hollen. he seems to disagree with everything you say. here is an example. >> i'm used to that. >> let me focus first on what our budget focuses on, which is not just economic...
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it's not a big budget deficit. it's that the italian economy has been dead flat for tenl years, me need toty away all this rigidity in order to grow. ets, you know, europe really has to focus more on growth, which is official speak for too much austerity, folks. this is the is not working. to my mind, what you see is they haven't made much progress on this reform and opening up. they need a reagan. they need a thatcher. they need somebody who is going to go for the supply side, let's grow, let's deregulate, and they haven't made much progress on that. and so all this focus on the debt takes you away from the fact that italy hasn't grown for ten years. if it doesn't grow for 20 years, this debt problem is really very difficult to cover. growth is the issues for italy. i do not think the european union has good policies that give them good growth because they have all these rigidities built into the system. unlike america, wherefore both or worth, if your boss doesn't like it, he follows you and moves on. >> pocket l
it's not a big budget deficit. it's that the italian economy has been dead flat for tenl years, me need toty away all this rigidity in order to grow. ets, you know, europe really has to focus more on growth, which is official speak for too much austerity, folks. this is the is not working. to my mind, what you see is they haven't made much progress on this reform and opening up. they need a reagan. they need a thatcher. they need somebody who is going to go for the supply side, let's grow,...
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the information exists, but the lack of a communication ability to translate that is a significant deficit. for highly uncommon event such as an asteroid flyby, there simply no established mutation mechanism that i believe our flight operations team learned of da 14 when they received a courtesy call from a colleague at the aerospace corporation. last year the commercials of the industry participate in deities shriek for war games. these games are held every other year and they're designed to exercise dvd thinking about the deployment of the terrestrial and space aspects in response to a complex situation. last of those games included as they have several times in the past that dod relies on commercial satellite company, their reliance is considerable and that a crisis is the wrong time to establish clear lines accumulation which a major partners and suppliers. i suspect the same conclusion can be safely applied to the topics we're discussing today. while governments were first to since i want to near earth space, commercial enterprise will be the primary user of the orbital arc in the 21s
the information exists, but the lack of a communication ability to translate that is a significant deficit. for highly uncommon event such as an asteroid flyby, there simply no established mutation mechanism that i believe our flight operations team learned of da 14 when they received a courtesy call from a colleague at the aerospace corporation. last year the commercials of the industry participate in deities shriek for war games. these games are held every other year and they're designed to...
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portugal, ireland, italy because they're all suffering and because of too much spending, too much debt, deficit is too high. all right, senator, congratulations on your big win. i know when you announce if you're running for president you'll do it hear? you want to make that promise? >> oh, yeah, we didn't already announce it. >> sean: no, i'm just checking. thank you, senator. >> all right. >> sean: appreciate it. and coming up on "hannity." >> i studied the constitution myself. i'm roonebly well-educated and i thank you for the lecture. >> i would note that she chose not to answer the question that i asked. >> the answer is obvious no. >> sean: well, she did need the lecture, left wing senator dianne feinstein says she felt, quote, patronized by that exchange simply because she was asked about the assault weapons ban. and ted cruz will join me to respond and later dr. benjamin carson brought down the house over at cpac and hinting that he may run for the white house. i'll ask him about that and much more. this is a jam-packed edition this is a jam-packed edition of "hannity." [ female announc
portugal, ireland, italy because they're all suffering and because of too much spending, too much debt, deficit is too high. all right, senator, congratulations on your big win. i know when you announce if you're running for president you'll do it hear? you want to make that promise? >> oh, yeah, we didn't already announce it. >> sean: no, i'm just checking. thank you, senator. >> all right. >> sean: appreciate it. and coming up on "hannity." >> i studied...
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not if you happen to have a little deficit, and in fact michael steele went on to say when we were handing out checks i don't believe reince priebus complaining. >> so reince is just being silly. and i understand he wasn't complaining about debt and concerned about debt when i was write checks to wisconsin when he was chairman and he wanted to win the legislature and governor which they did and they were all on board about going into debt to win. >> when did republicans turn into democrats. it's all overshadowed and sabotaged by infighting. >> bill: this is the circular firing squad for which republicans are famous. grace nap ol 'tano will be with here today, neil king, and of course you'll be with us too throughout the morning, and mike i will bloomberg is on the warpath again. but first. >> announcer: this the "full court press." >> on this tuesday overhead lines making news michael jackson's family is suing the entertainment company that sponsored the last tour. tmz reports that -- >> 2011? >> bill: come. come on. >> -- the new lawsuit they are asking for $40 billion -- >> bill: oh, yea
not if you happen to have a little deficit, and in fact michael steele went on to say when we were handing out checks i don't believe reince priebus complaining. >> so reince is just being silly. and i understand he wasn't complaining about debt and concerned about debt when i was write checks to wisconsin when he was chairman and he wanted to win the legislature and governor which they did and they were all on board about going into debt to win. >> when did republicans turn into...
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why do we keep spending and how can we trim the deficit? tom shaft is head of citizens against waste. good morning, tom. when you see those kinds of numbers going up and up. what does it do to your blood pressure? >> mine fortunately stays steady otherwise i wouldn't be able to talk about it all the time. >> gretchen: what are the areas we wanted to focus on, real estate, these buildings the government spend money on? >> there are 55,000 that cost $1.7 billion a year to maintain. any other organization would go out and sell them. the problem in washington is that the system to sell buildings is the exactly reverse what it should be. >> gretchen: meaning? >> the first priority was the federal building is to see if any other federal agency wants it. there is already 55,000 vacant buildings. so the inventory is too large. next it goes to state and local government choices. then to homeless shelter use and finally it can be put up to sale. it should start to the sale to the private sector or some other entity rather than waiting until everybody
why do we keep spending and how can we trim the deficit? tom shaft is head of citizens against waste. good morning, tom. when you see those kinds of numbers going up and up. what does it do to your blood pressure? >> mine fortunately stays steady otherwise i wouldn't be able to talk about it all the time. >> gretchen: what are the areas we wanted to focus on, real estate, these buildings the government spend money on? >> there are 55,000 that cost $1.7 billion a year to...
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he is up against a $327 million budget deficit. you mentioned there 14 billion with a b the, 14 billion in long-term debt. >> we can do this. i will have participated in one of the greatest turnarounds in the history of this country. >> reporter: orr has the advantage of not being elected so he can afford to be unpopular. there are five other municipalities in michigan that are under emergency management right now. one of those emergency managers told me the city council and mayor may not like it but they have only themselves to blame. jamie? jamie: you know what, mike being unpopular is one thing. under siege is another. which is it for kevyn orr? >> dynamic is created where the mayor and city council really have only one option, to comply or oppose. for the most part they oppose because that's all they're empowered to do at this stage of the game. you look at the city budget and the prediction municipal jobs en masse, the unions, afscme in particular is responding with a lawsuit. >> whole thing was a sham for the state to come in
he is up against a $327 million budget deficit. you mentioned there 14 billion with a b the, 14 billion in long-term debt. >> we can do this. i will have participated in one of the greatest turnarounds in the history of this country. >> reporter: orr has the advantage of not being elected so he can afford to be unpopular. there are five other municipalities in michigan that are under emergency management right now. one of those emergency managers told me the city council and mayor...
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we always have deficits and debt. how can you not worry about that. they do seem integrally involved in phobia, a lot of we don't want anybody else coming to this country. >> yeah, yeah, that's -- that's true, chris. it's this idea that they're losing their country. they fear change. they fear -- they're anxious about the change that we see. we see the browning of america. we see, you know, the gay rights movement is preceding at pace. you know, we saw the first female speaker of the house not too long ago. so it's this change that they have a problem dealing with, chris. and let me get to the point about -- >> why would somebody care -- i always wondered about this. why would somebody who is white care about whether the country is white 100 years from now? they're not going to be here. and the people here would be comfortable with it. your nature will change with the country's nature. it does sound like pure racism. if you want the country to be tribally white 100 years from now. i don't know why a black person would care either. why do people specul
we always have deficits and debt. how can you not worry about that. they do seem integrally involved in phobia, a lot of we don't want anybody else coming to this country. >> yeah, yeah, that's -- that's true, chris. it's this idea that they're losing their country. they fear change. they fear -- they're anxious about the change that we see. we see the browning of america. we see, you know, the gay rights movement is preceding at pace. you know, we saw the first female speaker of the...
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keep the current cuts in place, or get the same amount of deficit reduction by eliminating or reducing provisions in the tax code that benefits specific corporations or wealth year taxpayers. you choose. >> bill: we will give you more choices to make when we come back here with congresswoman jan schakowsky. you choose. >> this is "the bill press show." [ music ] guys that do reverse mortgage commercials? those types are now. (vo) she gets the comedians laughing and the thinkers thinking. >>ok, so there's wiggle room in the ten commandments, that's what you're saying. you would rather deal with ahmadinejad than me. >>absolutely. >> and so would mitt romney. (vo) she's joy behar. >>and the best part is that current will let me say anything. what the hell were they thinking? >> chatting with you life on current.com/billpress. this is "the bill press show" live on your radio and current tv. >> >> bill: how about it 43 minutes after the hour? we are coming to you live from our nation's capitol, brought to you today by the national education association. yes, the good men and women of the ne
keep the current cuts in place, or get the same amount of deficit reduction by eliminating or reducing provisions in the tax code that benefits specific corporations or wealth year taxpayers. you choose. >> bill: we will give you more choices to make when we come back here with congresswoman jan schakowsky. you choose. >> this is "the bill press show." [ music ] guys that do reverse mortgage commercials? those types are now. (vo) she gets the comedians laughing and the...
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and also the idea that the federal government can't have a deficit, it's crazy. the republicans have somehow adopted this and sold the american people that the most important thing facing this congress and country is to balance the federal budget. no, it's not. how about creating jobs? how about repairing our infrastructure? repairing our bridges and our highways and sewage treatment plans and all of that? how about investing in new energy projects and new medical advances and a cure for cancer? that's a hell of a lot more important than balancing the freakin' budget. that's the first thing wrong with this ryan budget. the second thing is that the ryan budget destroys medicare. still does. we talked about it this is the same damn budget that they passed two years ago, that they passed last year. it would shut down medicare for anybody who is not already in it, cut benefits for those who are, but shut down medicare for anybody who is not in it and replace it with a voucher. a voucher that would not even come close to buying you health care from a private insurance
and also the idea that the federal government can't have a deficit, it's crazy. the republicans have somehow adopted this and sold the american people that the most important thing facing this congress and country is to balance the federal budget. no, it's not. how about creating jobs? how about repairing our infrastructure? repairing our bridges and our highways and sewage treatment plans and all of that? how about investing in new energy projects and new medical advances and a cure for...
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so here you have two republicans who are very much concerned about deficit reduction who say this budget won't do it. >> okay, congressman. as you know, house democrats are also out with their budget. joining senate democrats in calling for more revenue as well as spending to create jobs. but paul ryan didn't seem too optimistic about this this morning. take a listen to what he said. >> all the democratic budgets have one theme. more taxes, higher spending, never balancing the budget. if you look at these two budgets, yeah, we're two worlds apart. we're literally on different planets. >> he says you're literally on different planets. do you, therefore, have any hope of a compromise? >> well, not very much with paul ryan. i do believe that as steny hoyer, the himinority whip said he thinks republicans are going to have a difficult time getting votes for this budget. as we remember, the republican presidential candidate in 2012 ran away from the ryan budget which was not nearly as severe as this one is. so he's going to have problems with his own members in the republican conference and on
so here you have two republicans who are very much concerned about deficit reduction who say this budget won't do it. >> okay, congressman. as you know, house democrats are also out with their budget. joining senate democrats in calling for more revenue as well as spending to create jobs. but paul ryan didn't seem too optimistic about this this morning. take a listen to what he said. >> all the democratic budgets have one theme. more taxes, higher spending, never balancing the...
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kansas state could no overcome an 18 point halftime deficit. show of hands. how many brackets are ruined in here this morning. yeah. a lot of people. ali? jesse? >> all right. clayton. if you are looking to do a little home improvement. you want to spend your money on products that work. luckily for us. already done the testing. lifestyle expert has some household musts and must not. >> alisyn: right. >> megyn's must have. tell us what you need. >> start talking. >> alisyn: with the upholstery tag. >> freshen up your decor organize and pay attention to the gashed. here is what i want you to invest in and what i don't want to you invest in. these are upholstery tacks. a little spike on the end. go around your house. i bet you have a piece of furniture that look as little trap. guess what, all do you is pop these babies in right along the seam. >> you don't need any equipment? >> i'm putting these in with my hands. this is a piece of foam furniture. add a little piece of glue to secure it into the foam. if you can put a push pin. if it's a wood piece of furnitu
kansas state could no overcome an 18 point halftime deficit. show of hands. how many brackets are ruined in here this morning. yeah. a lot of people. ali? jesse? >> all right. clayton. if you are looking to do a little home improvement. you want to spend your money on products that work. luckily for us. already done the testing. lifestyle expert has some household musts and must not. >> alisyn: right. >> megyn's must have. tell us what you need. >> start talking....
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Mar 20, 2013
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when asked how our budget deficit should be reduced, a large majority, 65% of people said by cutting spending. when asked to choose between the budgets proposed by each party, most people pick the one more in line with the republican proposal. cutting spending and not raising taxes. but when asked when each party was trusted more, people say that they trust the democrats more. go figure. let's get an amp explanation from charlie hearst, economists at the washington times. so you have this. people seem to like the republican approach. they just don't like the republican label with it. why is that? >> i think a large degree, republicans have been snakepit. largely because of what we have seen over the last couple of years. republicans talking to the media, which is something the democrats have focused on more than anything else. including the ideas that republicans have gone four. voters are far more in line with those ideas. but i would actually argue that republicans least realize that there is a problem here and there is a real disconnect between washington and the rest of america.
when asked how our budget deficit should be reduced, a large majority, 65% of people said by cutting spending. when asked to choose between the budgets proposed by each party, most people pick the one more in line with the republican proposal. cutting spending and not raising taxes. but when asked when each party was trusted more, people say that they trust the democrats more. go figure. let's get an amp explanation from charlie hearst, economists at the washington times. so you have this....